IPO GMP: The initial public offering (IPO) of International Gemmological Institute (India) attracted significant investor interest, garnering an impressive subscription of nearly 35 times, making it a resounding success. After the successful completion of the IPO, all eyes are now on the listing of the stock, which is due on Friday, December 20. At this point, when the market sentiment is weak, market participants appear busy speculating whether the International Gemmological stock will list at a bumper premium or not.
International Gemmological IPO shares GMP
There are high expectations that the International Gemmological share price will be listed at a premium on the BSE and the NSE despite the weak market sentiment. Market experts point out the trends in the grey market where the stock is trading at a healthy premium of nearly 28 per cent.
According to market sources, the last grey market premium (GMP) of International Gemmological IPO was ₹115. This simply indicates that the shares of International Gemmological could list at ₹115 higher than the issue price.
Considering the IPO’s upper price band of ₹417 per share and the last GMP, the stock is expected to list at ₹532 on the Indian bourse. This is a premium of 27.6 per cent with respect to the stock’s issue price.
International Gemmological IPO subscription details
International Gemmological Institute (India) Ltd, backed by Blackstone, saw a healthy subscription of its IPO.
As Mint reported earlier, the International Gemmological Institute IPO concluded with a subscription of 33.78 times. The qualified institutional buyers (QIB) portion received the highest demand at 45.80 times. The non-institutional investors (NII) portion was subscribed 24.84 times, while the retail investors’ quota saw 11.21 times subscription. The employees’ portion was subscribed 20.63 times.
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